SCANA Announces Sale of $150 Million of Series A Enhanced Junior Subordinated Notes

SCANA Corporation (NYSE:SCG) today announced the sale of $150 million principal amount of Series A Enhanced Junior Subordinated Notes bearing interest at 7.70 percent per year and maturing January 30, 2065, subject to extension in certain circumstances to January 30, 2080. The junior subordinated notes will be unsecured and will rank junior and be subordinated in right of payment and upon liquidation to all of SCANA’s current and future indebtedness, except any security that by its terms is subordinated to, or ranks on an equal basis with, the junior subordinated notes, and its indebtedness to its subsidiaries.

The junior subordinated notes were offered to the public at a price of $25.00 per note.

Net proceeds from the sale will be provided to South Carolina Electric & Gas Company (SCE&G) to redeem all of the outstanding shares of SCE&G’s preferred stock and for general corporate purposes. The sale was underwritten by BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities, acting as joint book-running managers.

Copies of a written prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, relating to the offering of these junior subordinated notes may be obtained by contacting Bank of America Merrill Lynch at One Bryant Park, 1111 Avenue of Americas, New York, NY 10036.

PROFILE

SCANA Corporation, a South Carolina corporation headquartered in Cayce, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses in South Carolina, North Carolina and Georgia. Information about SCANA and its businesses is available on the Company’s web site at www.scana.com.

SAFE HARBOR STATEMENT

Statements included in this press release which are not statements of historical fact are intended to be, and are hereby identified as, "forward-looking statements” for purposes of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements concerning key earnings drivers, customer growth, environmental regulations and expenditures, leverage ratio, projections for pension fund contributions, financing activities, access to sources of capital, impacts of the adoption of new accounting rules and estimated construction and other expenditures. In some cases, forward-looking statements can be identified by terminology such as "may,” "will,” "could,” "should,” "expects,” "plans,” "anticipates,” "believes,” "estimates,” "projects,” "predicts,” "potential” or "continue” or the negative of these terms or other similar terminology. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the following: (1) the information is of a preliminary nature and may be subject to further and/or continuing review and adjustment; (2) regulatory actions, particularly changes in rate regulation and environmental regulations; (3) current and future litigation; (4) changes in the economy, especially in areas served by subsidiaries of SCANA Corporation (SCANA); (5) the impact of competition from other energy suppliers, including competition from alternate fuels in industrial interruptible markets; (6) growth opportunities for SCANA’s regulated and diversified subsidiaries; (7) the results of short- and long-term financing efforts, including future prospects for obtaining access to capital markets and other sources of liquidity; (8) changes in SCANA’s or its subsidiaries’ accounting rules and accounting policies; (9) the effects of weather, including drought, especially in areas where generation and transmission facilities of SCANA or its subsidiaries (collectively, the Company) are located and in areas served by SCANA's subsidiaries; (10) payment by counterparties as and when due; (11) the results of efforts to license, site, construct and finance facilities for baseload electric generation; (12) the availability of fuels such as coal, natural gas and enriched uranium used to produce electricity; the availability of purchased power and natural gas for distribution; the level and volatility of future market prices for such fuels and purchased power; and the ability to recover the costs for such fuels and purchased power; (13) performance of SCANA’s pension plan assets; (14) inflation; (15) compliance with regulations; and (16) the other risks and uncertainties described from time to time in the periodic reports filed by SCANA or South Carolina Electric & Gas Company (SCE&G) with the United States Securities and Exchange Commission (SEC). The Company disclaims any obligation to update any forward-looking statements.